Wall Street Wants to Stake Your SOL, Not Eat Your Salad: DeFi Dev Corp’s $100M Bet on Solana
DeFi Development Corp (a name that practically screams, “We wanted something with synergy!”) is making headlines with its quest to raise $100 million. How? Not by passing the hat at Thanksgiving, but via a private offering of convertible senior notes that mature in 2030. If you’re not familiar, convertible notes are basically IOUs with commitment issues. One minute they’re debt, next minute—bam!—they’re equity, like a mullet but for corporate finance.